https://www.taxtmi.com/caselaws?id=404985 The Tribunal upheld the Ld. CIT(A)'s decision to restrict the disallowance of purchases to 12.5% instead of treating the entire amount as non-genuine. The Tribunal found the assessee had provided adequate evidence to explain the purchases, and the invocation of Section 69C was deemed inappropriate. The decision was based on estimation of additional profit rather than total disallowance, with reference to legal precedents. The Revenue's appeal was dismissed, affirming the Ld. CIT(A)'s order. en-us Mon, 11 Jan 2021 00:00:00 +0530 Mon, 08 Mar 2021 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404985 The Tribunal upheld the Ld. CIT(A)'s decision to restrict the disallowance of purchases to 12.5% instead of treating the entire amount as non-genuine. The Tribunal found the assessee had provided adequate evidence to explain the purchases, and the invocation of Section 69C was deemed inappropriate. The decision was based on estimation of additional profit rather than total disallowance, with reference to legal precedents. The Revenue's appeal was dismissed, affirming the Ld. CIT(A)'s order. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404985